Flipkart raises $3.6 billion from GIC, SoftBank, Walmart, others

While details about the investment made by these entities individually were not disclosed, sources said Canada Pension Plan Investment Board (CPP Investments) infused about USD 750-800 million, while SoftBank has pumped about $500 million.

Flipkart Group on Monday said it has raised $3.6 billion (about Rs 26,805.6 crore) in funding led by Singapore's sovereign wealth fund GIC, CPP Investments, SoftBank Vision Fund 2 and Walmart, valuing the e-commerce giant at $37.6 billion. The company, which competes with Amazon, Reliance Industries' JioMart and others in the burgeoning Indian e-commerce market, said it will continue to make deeper investments across people, technology, supply chain and infrastructure to address the requirements of a rapidly growing consumer base in the country. While details about the investment made by these entities individually were not disclosed, sources said Canada Pension Plan Investment Board (CPP Investments) infused about $750-800 million, while SoftBank has pumped about $500 million.